Digital marketing is exploding in the automotive industry.
The average marketing budget for auto dealers now spends over 50% on digital marketing. As Media Post reports, the automotive industry is the second-largest advertising category (behind general merchandise stores) at $35.5 billion. More startling stats: “Car sales are up 5% this year and ad budgets are up 17%. Online media accounts for 95% of this year’s increase.”
With this gold rush on digital media, it is easy for auto dealers to buy “snake oil” from digital marketers looking to get in on the action.
Many marketing agencies are quickly adding digital services to jump on the digital marketing bandwagon, while large software companies are rolling out templated campaigns to as many of their users as possible. What’s most frightening is that auto dealers don’t even own their data.
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